ISLAMABAD: A recent report has shed light on the controversial “One Constitution Avenue” project, detailing that former Prime Minister Imran Khan sold his apartment in the high-rise complex in 2022.
https://archive.mmnews.tv/one-constitution-avenue-and-stability-of-pakistans-investment-landscape/
The project, which has been mired in controversy since its auction in 2005, became a magnet for investment following a 2019 Supreme Court verdict that provided it with legal cover. According to the report, this ruling significantly boosted the market value of the project and attracted around 70 new high-net-worth investors.
Among those who invested in the project was Imran Khan. However, sources familiar with the matter told media that the former prime minister had already sold his apartment (identified as C11E) in 2022. The property is reportedly now registered in the name of Shahid Naseer.
https://archive.mmnews.tv/what-actually-is-the-one-constitution-avenue-scandal/
Background of the Controversy
The project, originally intended for a five-star hotel, was converted by the BNP Group into a residential complex known as One Constitution Avenue. The Capital Development Authority (CDA) had originally canceled the lease of the 13.5-acre plot in July 2016 due to multiple violations.
Following the 2019 Supreme Court verdict—delivered by a bench headed by then-Chief Justice Saqib Nisar and comprising Justices Ijazul Ahsan and Faisal Arab—the lease was restored, subject to the company paying Rs17.5 billion to the CDA in eight annual installments. The company had initially deposited a first installment of Rs 1.7 billion but later failed to honor its commitment.
The project remains embroiled in legal and administrative challenges. Recently, the CDA attempted to vacate the building following an Islamabad High Court (IHC) order upholding the authority’s decision to cancel the lease.
However, Prime Minister Shehbaz Sharif has since intervened, directing the CDA to halt the operation and forming a high-level committee to review the matter. The developer has reportedly submitted an indemnity bond committing to compensate third parties for any claims arising from the project.
https://archive.mmnews.tv/one-constitution-avenue-relief-plan-sparks-double-standards-debate/
